Parleys on to end Padma Bridge funding stalemate
Sunday, 8 January 2012
FHM Humayan Kabir
An alternative executive director (AED) at the World Bank (WB) headquarters in Washington has expressed his optimism about disbursement of US$1.20 billion worth Bank's loan for the Padma Bridge, officials said Saturday.
In a recent letter to Finance Minister AMA Muhith, Alternative Executive Director (AED) at World Bank Kazi M. Aminul Islam said he himself and the WB's Country Director in Bangladesh Ms. Ellen Goldstein have met two of the three managing directors and the representatives of the integrity department of the Bank.
"We have already held discussions with two managing directors-- Sri Mulyani Indrawati and Caroline Anstey -- and representatives of the integrity department of the Bank who assured us of considering the $1.2 billion loan," Mr. Islam said in his letter.
"We would also meet some other top officials of the global lender for resuming the process of disbursement of its committed $1.2 billion fund for Bangladesh's ongoing Padma Bridge project removing the present stalemate," he said.
"We are very much hopeful of getting the suspended loan. Two MDs and representatives of the integrity department have listened to us very carefully and assured us of considering the loan," said Mr Islam, an AED for Bangladesh, Bhutan, India and Sri
Lanka in WB.
Meanwhile, AMA Muhith has directed the WB's AED to hold discussions with the top WB officials for eliminating the current barriers to the disbursement of the Bank's committed $1.20 billion loan, confirmed in April 2011, for the US$2.9 billion Padma Bridge project.
Newly appointed Communications Minister Obaidul Quader requested the World Bank (WB) Bangladesh chief Ms. Goldstein in early last month to convince her bosses in Washington.
Ms. Goldstein is now staying in Washington and holding discussions with high officials concerned of the global lender to remove the financing barriers, a senior official of the Economic Relations Division (ERD) told the FE.
He said, "we are hopeful of receiving good news from the Bangladesh's country director on her return to Dhaka this week.
The Washington-based lender in October last year had put on hold the disbursement of its committed financing for the Padma Bridge project alleging some corruption and irregularities in the bidding process.
An alternative executive director (AED) at the World Bank (WB) headquarters in Washington has expressed his optimism about disbursement of US$1.20 billion worth Bank's loan for the Padma Bridge, officials said Saturday.
In a recent letter to Finance Minister AMA Muhith, Alternative Executive Director (AED) at World Bank Kazi M. Aminul Islam said he himself and the WB's Country Director in Bangladesh Ms. Ellen Goldstein have met two of the three managing directors and the representatives of the integrity department of the Bank.
"We have already held discussions with two managing directors-- Sri Mulyani Indrawati and Caroline Anstey -- and representatives of the integrity department of the Bank who assured us of considering the $1.2 billion loan," Mr. Islam said in his letter.
"We would also meet some other top officials of the global lender for resuming the process of disbursement of its committed $1.2 billion fund for Bangladesh's ongoing Padma Bridge project removing the present stalemate," he said.
"We are very much hopeful of getting the suspended loan. Two MDs and representatives of the integrity department have listened to us very carefully and assured us of considering the loan," said Mr Islam, an AED for Bangladesh, Bhutan, India and Sri
Lanka in WB.
Meanwhile, AMA Muhith has directed the WB's AED to hold discussions with the top WB officials for eliminating the current barriers to the disbursement of the Bank's committed $1.20 billion loan, confirmed in April 2011, for the US$2.9 billion Padma Bridge project.
Newly appointed Communications Minister Obaidul Quader requested the World Bank (WB) Bangladesh chief Ms. Goldstein in early last month to convince her bosses in Washington.
Ms. Goldstein is now staying in Washington and holding discussions with high officials concerned of the global lender to remove the financing barriers, a senior official of the Economic Relations Division (ERD) told the FE.
He said, "we are hopeful of receiving good news from the Bangladesh's country director on her return to Dhaka this week.
The Washington-based lender in October last year had put on hold the disbursement of its committed financing for the Padma Bridge project alleging some corruption and irregularities in the bidding process.